Nano Dimension records record financial results for 2023

Nano Dimension will close the current fiscal year with record revenues of $56.2 million for the company. Consolidated revenues for the fourth quarter will amount to approximately USD 14.3 million and will increase by +18% compared to the fourth quarter of 2022, while revenues for the entire year 2023 will increase by +29% year-on-year. These are still estimates based on currently available information.

Nano Dimension is well into the execution of its “Reshaping Nano” initiative (RNI), which was announced with its third quarter results on November 28, 2023. The company anticipates it will begin generating more cash than it spends after successfully achieving positive operating income in early 2025. It expects to be able to achieve this by achieving greater scale and synergies through its existing M&A program.

Just three years ago, Nano Dimension was a very niche company, focusing on additively manufactured electronics. Today, the company is a leader in advanced manufacturing as a pioneer in AME, offering cutting-edge precision additive manufacturing solutions. They are complemented by the internally developed DeepCube/Deep Learning AI solution. This is reflected in the financial results – revenues increased from $3.4 million in 2020 to $56.2 million this year, with organic growth of approximately +29% over the last 12 months.

As part of the RNI program, in the fourth quarter of 2023, the company’s headcount was reduced by approximately 25%, and the company’s management team was also reduced by 25%. With greater scale and organizational efficiency, Nano Dimension has already implemented plans that took a critical look at costs of goods sold and operating expenses. In the results for the first quarter of 2024, part of the full-year savings of USD 30 million is already expected.

Source: www.nano-di.com